A Study On Financial Fraud Behavior And Governance Of Agricultural Listed Companies From The Perspective Of Risk Factors

China's capital market since its inception,has now made great development and progress,however,there is always a problem is not completely resolved,that is,listed companies financial fraud.Every year there are different industries listed companies for different purposes of financial fraud,in which the agricultural listed companies fraud is very worthy of attention.From the year's "China blue-chip first shares" silver Guangxia,"China's agricultural side of the banner" Lantian shares,to recent years,"Hunan Province,grain and oil processing key enterprises" Wanfu Health Branch,agricultural listed companies frequently due to financial fraud problems were exposed,Investigate and deal with.As one of the pillars of China's economic development,agriculture has always attached great importance to the development of agriculture.As the leading enterprises in the industry,their financial fraud has not only affected the trust of the financial information authenticity of the listed companies,But also become a hindrance to China's agricultural and capital market good and stable development of the stumbling block.July 7,2014,the Commission on China's agricultural areas of national key leading enterprises in the Xinjiang Industrial Co.,Ltd.(stock code 000972,hereinafter referred to as "new base")issued a "administrative penalty decision"([2014)68),indicating that it had falsified the financial statements for six consecutive years between 2006 and 2011,and first profited profits in 2006 and 2007,and then net profit in 2008 to 2011.The use of financial fraud,which not only to avoid being ST,but also successfully carried out two private placement,a total of nearly 1 billion yuan to raise funds,the period of fraud,fraud means harsh,since Wanfu students after the most listed agricultural companies The At this point,China's community for the new center of the fraud and the behavior of agricultural listed companies fraud has been pushed to a climax.However,there are few studies on the use of risk factor theory as a theoretical framework,and few studies have combined the theoretical basis of risk factor and the corrupt behavior of agricultural listed companies.Based on the previous research on the corrupt behavior of listed companies,this paper,based on the characteristics of China's national conditions and the characteristics of agricultural listed companies,from the fraud characteristics of agricultural listed companies and the usual fraud,based on fraud risk factor theory,Motivation for analysis.This paper analyzes the process of fraud,the means and the motives of fraud,and puts forward the corresponding suggestions on the governance of financial fraud of listed companies in agriculture.This paper finds that the hardest hit areas of agricultural listed companies are the hidden income of cash transactions,the use of inventory and biological assets is difficult to verify the characteristics of assets,to conceal the related party transactions and false disclosure.Secondly,due to the characteristics of the industry affected by external factors,the operation status of agricultural listed companies is unstable,and it is easy to produce the motives of fraud in the purpose of financing.Secondly,the risk of agricultural listed companies is not easy to be fraudulent.In the end,due to the fact that there is a dominance or insider control phenomenon,and the taxation cost is low,the biological assets and inventory verification are difficult and so on,the potential for fraud will be much.Finally,because the external audit can not be diligent due diligence,The intensity is weak,making the risk of fraud is found to be lower,was found after the punishment is also lower.In this paper,we should strengthen the education of agricultural listed companies and the education of employees;improve its corporate governance mechanism;consider the establishment of an independent financing channels for agricultural listed companies;require auditors to pay attention to agricultural special matters;strengthen supervision and enforcement efforts.Only in these areas can we effectively manage the fraudulent behavior of agricultural listed companies.